If a firm's output more than doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale.
B) imperfect competition.
C) intra-industry equilibrium.
D) constant returns to scale
E) decreasing returns to scale.
A
You might also like to view...
If price goes up 20 percent and quantity demanded declines by 10 percent, total revenue will rise
a. True b. False Indicate whether the statement is true or false
How does human specialization contribute towards increasing an economy's output?
A. It exploits the differences in abilities B. It is a process of creative destruction C. It pushes each worker to master the whole product D. It encourages people to be "jacks-of-all-trades"
If in the third quarter of 2016 total investment spending was $4,768 billion and depreciation was $3,292 billion, then the amount counted in GDP, which is known as gross investment, would be:
A. $1,476 billion. B. $3,292 billion. C. $4,768 billion. D. $8,060 billion.
In the long run when a perfectly competitive firm experiences negative economic profits
A. the high barriers to entry prevent further competition. B. that firm exits the industry. C. new firms enter the industry. D. firms have no incentive to exit or enter the industry.